Rule of Law

Trump To Turn Over Financial Docs To House Panel

Former President Donald Trump has agreed to hand over financial documents to the House Oversight and Reform Committee and end his court case seeking to block their release, the panel’s chair said Thursday.

The agreement by Trump and his longtime accounting firm, Mazars USA LLP, to turn over the documents sought in a 2019 subpoena will bolster an investigation into the former president’s potential conflicts of interest, self-dealing and foreign financial ties, committee Chair Carolyn Maloney, D-N.Y., said in a statement.

Former President Donald Trump’s settlement with the House Oversight and Reform Committee ends one of the long-running legal fights over his financial records. (AP Photo/Andrew Harnik)

The documents will “ensure that future presidents do not abuse their position of power for personal gain,” Maloney said.Trump’s legal team filed a notice in the D.C. Circuit Wednesday that Trump and the panel had struck a settlement and that Trump was withdrawing his bid for the court to rehear its July decision finding that the Oversight committee could obtain some, but not all, of the records it requested from Mazars.The notice didn’t disclose the terms of the settlement. Maloney said the “critical documents” will unravel the former president’s conflicts of interest in his business dealings.Maloney’s office declined to further detail the settlement, while Oversight ranking member James Comer, R-Ky., didn’t respond to a request for comment. Representatives of Trump and Mazars did not immediately respond to requests for comment.The settlement ends one of the long-running legal fights over the former president’s financial records. It comes after the appeals court’s three-judge panel affirmed in July the committee’s authority to request some documents sought under the subpoena, but narrowed its scope.In response, Trump told the appeals court last week to completely void the committee’s subpoena.Meanwhile, the former president is still challenging a separate subpoena from the House Ways and Means Committee seeking his tax returns. The D.C. Circuit last month said the committee could continue its efforts to obtain his tax records. The committee has been seeking those records since 2019 under Internal Revenue Code Section 6103(b) , the statute under which Congress can request tax returns from the Internal Revenue Service.The Oversight committee also has been investigating Trump and his potential conflicts of interest since 2019. It filed a subpoena requesting financial filings relating to Trump, the Trump Organization and Trump Old Post Office LLC. The committee investigation had three tracks: financial disclosures, a lease between a Trump business and the General Services Administration, and potential violations of the U.S. Constitution’s emoluments clause.The Constitutional Accountability Center, a progressive think tank, said the panel was entitled to these documents.But “the fact that it has taken this long for the committee to obtain these documents underscores the need for expedited treatment of oversight litigation to ensure that when Congress needs information to do its job, it can get that information — and get it in a timely manner,” Chief Counsel Brianne Gorod said in a statement to Law360. Mazars is represented by Laura N. Steel of Wilson Elser Moskowitz Edelman & Dicker LLP.Trump, his family and his holdings are represented by Patrick Strawbridge, William S. Consovoy and Cameron T. Norris of Consovoy McCarthy PLLC.The committee is represented by Douglas N. Letter, Todd B. Tatelman, Eric R. Columbus and Stacie M. Fahsel of the House Office of General Counsel.The case is Donald J. Trump et al. v. Mazars USA LLP et al., case numbers 21-5176 and 21-5177, in the U.S. Court of Appeals for the D.C. Circuit.–Additional reporting by Theresa Schliep. Editing by Khalid Adad.

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